Duplex with Main-Floor
For Sale
$124,900
218 Lincoln Street, Chesaning, MI 48616
MULTIFAMILY, Chesaning, MI
Property Size1,394 SF
Lot Size0.20 Acres
Price / SF$89.60
Days on Market135
Property Features for 218 Lincoln Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1, Bedroom 1, Bedroom 2
Patio and Porch features
Porch
Interior features
Cable/Internet Avail.
Exterior features
Porch, Sidewalks
Appliances
Range/Oven, Refrigerator
Lot features
Sidewalks
Elementary school district
Chesaning Union Schools
Middle school district
Chesaning Union Schools
High school district
Chesaning Union Schools
Subdivision
Chesaning (73033)
Standard status
Active
APN
13-09-3-16-0387-000
Size
1,394 SF
Lot size
0.20 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3161
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Architectural style
Other
Listing Agency:
RE/MAX New Image · RE/MAX International
(989) 790-0890
Listed By:
Janet Kovach
(989) 262-7007
Added: Jun 15
Changed: Oct 26
Last Checked: Oct 27 at 2:06AM
MLS# 50211457
Copyright © 2026 Saginaw Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,394-square-foot duplex, built in 1920, includes two bedrooms and two bathrooms, along with a basement. The main-floor apartment has a laundry room that could be converted to a second bedroom. A range and refrigerator are included, and the property has forced-air heat, ceiling fans, and a porch.
The property occupies a 0.2-acre lot in Chesaning. Public water serves the building, and sidewalks are among the exterior features. Tenants pay for heat and electricity; the owner pays for water.
The property occupies a 0.2-acre lot in Chesaning. Public water serves the building, and sidewalks are among the exterior features. Tenants pay for heat and electricity; the owner pays for water.
Key Highlights
- Two‑bedroom, two‑bathroom duplex
- 1,394 square feet on a 0.2‑acre lot
- Main‑floor apartment includes a laundry room that can be converted to a second bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,259
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$165,180
$165.2K
Cap Rate 7%
$117,986
$118.0K
Cap Rate 9%
$91,767
$91.8K
Market Conditions
NOI Build-Up for 1,394 SF
Gross rent
$12.7K $9.12/SF
− Vacancy
−$915 −$0.66/SF
EGI
$11.8K $8.46/SF
− OpEx
−$3.5K −$2.54/SF
NOI
$8.3K $5.92/SF
Area
Saginaw County, MI
Vacancy
7.20%
Lease Rate
$9.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$165,180
Cap Rate 7%
$117,986
Cap Rate 9%
$91,767
Alternative Uses
Best Use
Multifamily LT 5
$118.0K
$103.2K – $137.7K
NOI $8,259 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$112.1K
$98.1K – $130.7K
NOI $7,844 @ 7.0% cap · market cap 6.28%
Theoretical Best
Specialty Retail
$257.6K
$225.4K – $300.5K
NOI $18,029 @ 7.0% cap · market cap 14.43%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
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Business Placement
Demographics for 48616, MI
7,458
Population
3,226
Households
2.3
Avg Household Size
45
Median Age
14%
College-Educated
92%
High-School Grad
81.1 sq mi
ZIP Area
92
Density / Sq Mi
$67,801
Median Household Income
$39,141
Median Earnings
$744
Median Rent
$153,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments share tenant-paid heat and electricity, while the owner covers water service.
Where is this duplex located?
The property is located at 218 Lincoln Street Chesaning, MI.
What is the asking price?
The asking price for this property is $124,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom duplex; 1,394 square feet on a 0.2‑acre lot; Main‑floor apartment includes a laundry room that can be converted to a second bedroom
